FAQ

 

 

  1. What is needed to qualify for a mortgage?
    • Provide Historical (3-5 yrs) Hopewell Information ... Giving, Giving Units, Spending, etc.
    • Initial Cash Outlay 25% ... depends on the total loan requested
    • Pledge Campaign Commitment from Congregation (at least 3 years)
    • Updated Property Assessment
    • Finalized quotes from contractors plus detailed drawings to determine future value of the property
    • 60 days ... loan processing time
    • Approvals from SCUMC Conference

 

  1. What monthly giving will this require?

Monthly giving will be dependent on Total Project Cost, Initial Cash, Loan Rate and Term of Loan. Using a basic loan calculator ... with a $2.6 million project, $500K in cash, 6% 20 year loan, we would be expecting a monthly payment schedule of approximately $12,000. This may change dramatically as we discuss options with the loan providers.

 

  1. What has been raised to date?

Total Raised through August is $347,904.94.

 

  1. What is the current balance in the building fund after expenses

Current Balance after expenses through August is $314,397.82.

 

  1. Will the stone wall remain?

– The wall should not be impacted by construction. Our intention is to preserve the wall.

 

  1. Will the "Brush Arbor" be preserved?

– The location of the Brush Arbor is not ideal for optimal utilization of the Hopewell site. It will likely need to be relocated on the property or removed all together.

 

  1. Will the oak trees be preserved?

Every effort will be made to preserve the oak trees.

 

  1. Will the picnic shelter and the playground remain where they are?

The picnic shelter and playground will remain in their current location.

 

 

 

  1. When will we be in a position to start construction?

– We will be in position to break ground for construction of our new sanctuary three and a half to four months after raising the necessary funds for a down payment on a mortgage.

 

  1. What is the anticipated cost?

– Our projected cost estimate for the new Sanctuary is $2,600,000. This includes supporting infrastructure requirements such as grading, stormwater management, additional parking and utility upgrades.

 

  1. When is Commitment Sunday?

– Commitment Sunday is scheduled for October 20, 2024.

 

  1. Why not go to two worship services on Sunday mornings? 
    • The survey of the congregation, prior to the vote, revealed that majority wanted to keep a single worship service. Changing to multiple worship services would put additional stress on our musicians, hospitality, and worship committees who do an amazing job for Hopewell.

 

  1. What about classroom spaces?
    • Our current worship space will be accessed to fill the remaining space needs of the church until we can implement the remaining two phases of our building plan.